Oh, that's right__it's Asia/Pacific Travel Management Company Earnings Week! Australia's Flight Centre and China's Ctrip.com reported increased corporate travel demand as part of their financial releases, and Australia's Corporate Travel Management, the most corporate of the trio, announced on Tuesday 41 percent higher profits of A$4.7 million (US$4.8 million) during the six months ending Dec. 31.
Organic growth and acquisitions boosted total transaction value at CTM 42 percent year over year to A$316 million (US$322 million). "We have experienced a slight softening in client activity since October 2011," warned CTM managing director Jamie Pherous.
With about 650 clients, CTM claims roughly 9 percent of the Australian travel management market.